Liquefied Natural Gas Limited (LNGLY) Insiders have been buying...

Liquefied Natural Gas Limited (LNGLY)

Insiders have been buying these 3 ASX shares

Once a week I like to look at which ASX shares have been experiencing insider buying. This is because insider buying is often regarded as a bullish indicator as few should know a company, its prospects, and true value better than its own directors.

Liquefied Natural Gas Ltd (ASX: LNG)

According to a change of director’s interest notice released this morning, this liquefied natural gas company’s chairman, Paul Cavicchi, has been buying its US-listed over the counter ADRs. Mr Cavicchi bought 100,000 ADRs, which equates to 400,000 ordinary shares, this week for a total consideration of US$168,750.

Despite its shares and ADRs rising by around 50% over the last 10 weeks, Mr Cavicchi clearly still sees a lot of value in them. As does CEO Gregory Vesey who picked up 150,000 ordinary shares at 56 cents per share yesterday.

The company’s share price has rallied higher on the news.

James Mickleboro 13 Jul. 2018, 1:20 pm

https://au.finance.yahoo.com/news/insiders-buying-3-asx-shares-032011288.html

2.03+0.07 (+3.62%) At close: 3:53PM EDT

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